Buying a duplex

Hi all,I bought a duplex from a friend of mine and when I asked to transfer the house on my name he said I can add you on the house deed since the duplex is under one deed.And I want a separate deed so I can get a loan for renovating the duplex please give me an idea

Re: Buying a duplex

This is what happens when you purchase a property without the benefit of professionals. If you bought the property with even an attorney or a title company involved all of this would have been taken care of and the proper paperwork would have been completed in order to close the deal. At this point you need to find out if the property has been actually sold as this is a part of the process to sell a property. The deed has to transfer in order to effect a sale. He cannot add you to the deed because at this point if the sale was properly concluded his name would no longer be on the deed, it would only have your name as the new owner. Please contact a real estate attorney to get this done right. At the time the money changed hands the paperwork should have also changed hands. I do suggest that you get this taken care of immediately. Good luck!

Re: Buying a duplex

Is the matter resolved? Did your friend give you a separate deed? It is always better to buy a property with the help of the professionals as they always take care of all your likes and paper work. If the matter is not solved, all I would suggest is to hire an expert from a good real estate agency Caldwell NJ and they would definitely help you to deal with this matter or will provide the other way solution.